Michigan economy in 5th year of modest recovery

Experts say Michigan's economy is seeing modest growth and is starting a fifth consecutive year of a turnaround.

The Associated Press

Experts say Michigan's economy is seeing modest growth and is starting a fifth consecutive year of a turnaround.

University of Michigan experts told state lawmakers Friday that Michigan had the fourth-highest private-sector job growth from 2010 to 2012. The state's economy is doing better because of the national economy, stronger auto sales and a rebound in the housing sector.

But a projected seven-year recovery through 2016 will only replenish slightly more than half the jobs lost between 2000 and 2010, when Michigan was decimated with job loss.

Legislators are meeting to get an update on the economy and an estimate of how much more tax revenue is coming in before they work on the next state budget.